Bank of Korea data show South Korea's 2025 tourism deficit with Japan widened to
US$5.7054bn, the largest since comparable records began in 1998. Receipts from
Japanese visitors were US$2.7373bn while outbound spending by South Korean
residents in Japan reached US$8.4427bn. The travel balance swung to a surplus in
2020-21 amid COVID disruptions but reverted to a deficit in 2022 and has
expanded annually, surpassing US$5.7bn in 2025. The Bank of Korea attributed the
widening deficit to record outbound travel to Japan, citing yen depreciation and
the full post-COVID restoration of international flight routes as drivers of
strong demand.
